CEA Industries expands holdings to 388,888 BNB with $33 million buy, eyes 1% of supply by year-end

Yunfeng Financial Group, a Hong Kong-listed company with ties to Alibaba founder Jack Ma, acquired 10,000 ETH (worth about $44 million) in a move to deepen its Web3 expansion.

The purchase, disclosed in a voluntary announcement on Tuesday, was funded through internal cash reserves. The move follows a recent announcement by Yunfeng outlining its push into Web3, real world assets (RWA), digital currency and artificial intelligence.

According to the company, Ether (ETH) was chosen as a reserve asset to support RWA tokenization, technological innovation and the broader integration of finance with Web3 infrastructure.

“The Board believes that the ETH’s inclusion as the Company’s strategic reserve assets is consistent with the Group’s layout of expansion into frontier areas, including Web3, and provides key infrastructure support for Real World Assets (RWA) tokenization activities,” the company said.

A massive 201,435% liquidation imbalance hit the Bitcoin derivatives market on Tuesday, as per CoinGlass. Ironically, this occurred just as Michael Saylor confirmed another multibillion-dollar expansion of Strategy holdings. The software firm revealed that it had purchased 4,048 BTC for $449 million, averaging $110,981 per Bitcoin.

However, rather than cheering the market, this announcement coincided with a sell-off, pushing the price of the main cryptocurrency below $109,000 and rattling leveraged positions across multiple exchanges at once.

In an hour after the announcement, $4.21 million worth of Bitcoin longs were liquidated, compared to only $2,090 on the short side — that’s where the imbalance was hiding in plain sight.CoinGlass">

It’s not an isolated event, though, as over the 24-hour period, more than $393.9 million in leveraged positions were liquidated, with long contracts taking the bigger hit at $292 million versus $101.8 million in shorts.

Whose margin call was most painful?

Binance saw the largest liquidation of the day: an  position worth nearly $9.8 million. The pressure extended well beyond Bitcoin itself, pulling altcoin markets into the storm.

Saylor’s company now holds 636,505 BTC at an average cost of $73,765 per coin, with the total stack valued at $46.95 billion. It’s still a 25.7% gain on paper for Saylor & Co.

A bottom line may be that despite massive spot accumulation from the likes of Saylor, the current price action of Bitcoin may be dictated more by derivatives positioning than corporate buying. And imbalance figures prove that point today.

Crypto exchange Gemini has filed plans for a U.S. initial public offering that could raise up to $317 million and value the firm at about $2.22 billion. The offering marks a significant step for the Winklevoss twins’ company as crypto businesses test renewed appetite in public markets.

Gemini Moves Toward Nasdaq Listing

In an SEC filing, Gemini Space Station, Inc. said it intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker “GEMI.” The firm will offer 16.67 million shares priced between $17 and $19 each. Underwriters will also have a 30-day option to buy about 2.5 million additional shares.

Goldman Sachs, Citigroup, Morgan Stanley, and Cantor are leading the underwriting syndicate, which is joined by a group of other investment banks.

In filings with the Securities and Exchange Commission, Gemini reported $142.2 million in revenue for 2024, compared with $98.1 million the previous year. While smaller than Coinbase, the results point to higher trading activity during last year’s rally in bitcoin and other digital assets.

Significance for the Winklevoss Twins

Founded in 2014 by Cameron and Tyler Winklevoss, Gemini has positioned itself as a regulated exchange for U.S. investors. However, the company has faced challenges, including a dispute with bankrupt lender Genesis that drew regulatory scrutiny, but continues to pursue growth in a competitive market.

The IPO comes as crypto firms return to U.S. public markets, following listings by Circle, eToro, and Bullish. Gemini’s mid-sized scale could attract investors betting on wider adoption of digital assets, though the company cautioned that the deal depends on market conditions and may not proceed as planned.

Read more: After Circle’s IPO, Crypto Exchange Gemini Takes Next Step Toward Listing With SEC Filing

Gemini’s IPO plans follow recent regulatory resolutions. Earlier this year, the U.S. Securities and Exchange Commission closed its investigation into the company. The exchange also settled a $5 million lawsuit with the Commodity Futures Trading Commission, clearing significant obstacles to its public market debut.

"The question for investors regarding Gemini revolves around the business mix and moat of trading versus custody, how they differentiate on trust and growth, and what they do that Coinbase can't copy by Tuesday," said Michael Ashley Schulman, partner and chief investment officer at Running Point Capital, quoted by Reuters.

Key takeaways:

• Ethereum whales bought 260,000 ETH in the last 24 hours, signaling accumulation.

• Whales, BitMine and ETFs add billions of dollars in ETH, reinforcing bullish demand.

• Price technicals favor the bulls with targets between $5,000 and $6,000.

Despite the price drawdown, whales keep buying hundreds of thousands of ETH, igniting hopes of Ether’s possible return to all-time highs.

Ethereum whales buy the dip

Responding to the market correction over the last week, Ether whales took advantage of the drop to $4,200.

Data from Santiment shows that whale addresses holding between 10,000 and 100,000 ETH rose by 4% between Aug. 24 and Tuesday. Moreover, these big investors have accumulated about 260,000 ETH worth $1.14 billion in the past 24 hours.

Ethereum’s (ETH) momentum has stalled, with the token tumbling from its August record of $4,950 to under $4,300. The decline reflects investors shifting focus to securing profits after the recent rally, as the overall sentiment appears to have extended into September.

But ETH’s bearish setup may not be what it seems, and traders fearing the altcoin’s September breakdown may regret it.Greatest Bear Trap

Ethereum may be on the verge of what some analysts call the “biggest bear trap” this month.

In his latest post on X, crypto trader and analyst Johnny Woo warned that Ether could appear bearish in September by forming a head-and-shoulders pattern, which happens to be a classic signal of potential downside.

However, if invalidated, this setup could flip sentiment in October, known in crypto circles as “Uptober,” forcing sidelined traders to buy back in at higher levels. Such pattern-driven reversals have occurred before, and have now fueled speculation about Ethereum’s next decisive move.

Woo also went on to highlight the critical support zone for Ethereum, as he noted that the $3,800 to $4,100 range is an area to watch closely. According to the analyst, this level has become increasingly significant for traders. If the altcoin manages to hold above this level, it couldstrengthenbullish sentiment, while a breakdown might open the door for further downside pressure.Bullish Setup

Crypto trader Hardy also expressed strong bullish sentiment on Ethereum, and tweeted that the asset looks “ready to PUUMP” with an imminent breakout ahead. He suggested that, based on its previous price action, Ethereum could deliver a “double pump” move.

Meanwhile, another popular market watcher, Axel BitBlaze, said that ETH’s setup looks primed for another breakout. He highlighted a cup-and-handle formation alongside two powerful pumps, each retracing before fueling further upside. With the market now on pause, BitBlaze believes that a potential third move could be the most aggressive yet, possibly catapulting ETH above the $5,000 mark.

Gemini, a crypto exchange founded by Cameron and Tyler Winklevoss, has announced the launch of an initial public offering (IPO) of 16.67 million shares of Class A common stock.

Gemini Space Station officially filed a Form S-1 for IPO on Tuesday, planning to sell the shares priced between $17 and $19 per share, to raise up to $317 million.

Subject to completion, the filing comes weeks after the company filed with the US Securities and Exchange Commission to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEMI on Aug. 16.

With the IPO, Gemini exchange is seeking a valuation of up to $2.22 billion, according to a report by Reuters.

Goldman Sachs, Citigroup among lead bookrunners

Gemini’s IPO involves participation from prominent financial institutions, including Goldman Sachs, Citigroup, Morgan Stanley and Cantor, who are acting as lead bookrunners.

Additional bookrunners include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, Needham & Company and Rosenblatt.